The Private Rental Sector (PRS) is a newly emerging market in Ireland, and is showing no signs of slowing down. PRS schemes are beginning to offset the historical dominance of private/individual landlords, and there is huge demand for private rental sector living.
We’ve asked our PRS experts across Research, Lettings and Investment what you need to know to tap into this viable market. Get in touch with a PRS agent and find out how we can help you today.
The Private Rented Sector (PRS) is now well established in the Irish market, having emerged as a sector in 2012. Generally, PRS refers to a block or blocks of apartments that are in single ownership and management, and where there are dedicated amenities and facilities for residents.
Demand for PRS stems from changing demographics. These include a growing population that is both young and ageing; people getting married later and renting for longer; the fact that Ireland is more international and more urbanised. The evolution of demographics means the way people live is changing. This has implications for the type, size, tenure and location of future housing. While many will always choose more traditional forms of accommodation, others want choice. Being more international, a greater variety of housing options are being demanded, particularly in city areas. FDI companies bring with them highly skilled international workers (jobs tourism) who are accustomed to a different way of living – apartment, city living, close to place of work.
Lisney Sotheby’s International Realty have a dedicated PRS team offering a 360-degree service within this sector. Our services include:
- Sales & Acquisitions
- Strategic Advice
- Design & Specification
- Property Management